{"id":109061,"date":"2026-05-18T00:00:00","date_gmt":"2026-05-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?post_type=issue&#038;p=109061"},"modified":"2026-05-18T03:05:36","modified_gmt":"2026-05-18T03:05:36","slug":"unlocking-usd-35-bn","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/","title":{"rendered":"Unlocking USD 35 bn"},"content":{"rendered":"<section id=\"109063\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109063\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/\">\r\n                            Contained inflation expected for 2026, says ENBD                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Saudi inflation to stay \u201ccontained\u201d in 2026, says ENBD&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/&title=THIS MORNING: Saudi inflation to stay \u201ccontained\u201d in 2026, says ENBD\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+Saudi+inflation+to+stay+%E2%80%9Ccontained%E2%80%9D+in+2026%2C+says+ENBD+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fthis-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1488.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109064\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/this-morning-saudi-inflation-to-stay-contained-in-2026-says-enbd\/1488-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1488.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1488.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1488.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1488.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109063\" class=\"content-area-description single-story post-109063 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-capital-markets tag-enterpriseam-ksa tag-inflation tag-investment-ministry tag-sab-invest tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good m<\/strong><strong>orning, friends. <\/strong>We kick off what is shaping up to be a busy news day with a war update after the Defense Ministry <a target=\"_blank\" href=\"https:\/\/x.com\/modgovksa\/status\/2056102093358854204\" style=\"\">said<\/a> it intercepted three drones entering the Kingdom from Iraqi airspace. The ministry did not specify what the drones were targeting or who launched them, but it asserted its right to respond. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- Dusty days: <\/strong>Dust storms are expected to pick up across parts of Najran, Makkah, Madinah, Qassim, Hail, Tabuk, Al Jawf, and the Northern Borders today, with near-zero visibility possible in parts of Riyadh and the Eastern Province.<\/p>\n<ul>\n<li>Riyadh: 38\u00b0C high \/ 25\u00b0C low;<\/li>\n<li>Jeddah: 41\u00b0C high \/ 27\u00b0C low;<\/li>\n<li>Makkah: 46\u00b0C high \/ 29\u00b0C low;<\/li>\n<li>Dammam: 36\u00b0C high \/ 24\u00b0C low.<\/li>\n<\/ul>\n<p class=\"tag-border-left\"> Watch this space<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>ECONOMY \u2014<\/strong> <strong>Saudi Arabia\u2019s<\/strong><strong> inflation is expected to <\/strong><strong>\u201cstay contained\u201d this <\/strong><strong>year<\/strong>, Emirates NBD Senior Economist Daniel Richards wrote in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/971.pdf\" style=\"\">report (pdf)<\/a>. The outlook is supported by easing housing costs, a strong USD, and regulated fuel prices \u2014 factors that could help the Kingdom outperform regional peers even if inflation picks up in the coming months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prices are calm for now:<\/strong> The annual headline inflation rate <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/17\/inflation-cools-in-april\/\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/17\/inflation-cools-in-april\/\" style=\"\">cooled<\/a> to 1.7% in April, down from 1.8% in March, supported by higher government spending on fuel and food subsidies in 1Q. Higher oil prices from Hormuz\u2019s closure could keep price increases sticky for now. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt2\"><\/a> <strong>CAPITAL MARKETS \u2014 The first ETF market maker <\/strong><strong>under new <\/strong><strong>Saudi Exchange rules is here. <\/strong>Sab Invest secured approval from the Saudi Exchange to act as a market maker for its Quant EFT, becoming the first entity to do so under the Exchange Traded Funds Market Making Framework, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=9397&locale=en\" style=\"\">Tadawul disclosure<\/a>. Under the arrangement, Sab Invest will be required to maintain a minimum order presence of 80%, a minimum order size of SAR 50k, and a maximum spread of 2%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So\u2026 what\u2019s an ETF market maker? <\/strong>They are exchange members tasked with supporting liquidity in listed ETFs by continuously posting buy and sell orders. Under the <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/979.pdf\" style=\"\">Saudi Exchange framework (pdf)<\/a>, market makers \u2014 in agreement with the fund manager \u2014 can choose between three commitment tiers, with requirements tied to spreads, order size, and market presence. To qualify for incentives, including waived trading and regulatory fees, they must meet daily obligations such as maintaining a minimum order size of 50k shares, remaining active for at least 80% of the trading day, and keeping spreads within set limits.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TRADE \u2014 Th<\/strong><strong>e long-<\/strong><strong>awaited freetrade<\/strong><strong> agreement between the UK and Gulf <\/strong><strong>states is nearing completion<\/strong>, with both sides aiming to close an agreement-in-principle \u201cwithin days,\u201d the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/51379a6a-3ed1-427c-b303-d1491b863ece?syn-25a6b1a6=1\" style=\"\">Financial Times<\/a> reports, citing sources it says are in the know. GCC Secretary General Jasem Albudaiwi, who <a target=\"_blank\" href=\"https:\/\/www.gcc-sg.org\/en\/MediaCenter\/News\/Pages\/news2026-5-12-1.aspx\" style=\"\">confirmed last week<\/a> that the parties made \u201csignificant progress,\u201d is set to visit London this week, one of the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What to expect: <\/strong>The two sides <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/13\/gcc-freetrade-talks-are-at-an-advanced-stage-uks-department-of-trade-says\/\" style=\"\">aim to cooperate<\/a> on financial services, health and life sciences, industrial growth using new technologies, creative industries, and education, Country Director for Saudi Arabia at the UK\u2019s Department for Business and Trade Pete Ashby told EnterpriseAM last year. The UK\u2019s luxury automotive and financial services sectors stand to benefit the most from the trade pact, the FT said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Data point<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>7.7k \u2014 that\u2019s the number of new investment registrations issued <\/strong><strong>in 1Q 2026<\/strong>, up 50% y-o-y, the Investment Ministry <a target=\"_blank\" href=\"https:\/\/x.com\/MISA\/status\/2055294968290324665\" style=\"\">said on X<\/a>. Construction accounted for the largest share with 2.5k registrations (+20%), followed by wholesale and retail trade at 1.6k (surging 213%), and manufacturing and industrial activities with 969 registrations (+42%).<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\">the UAE<\/a>, the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\">logistics<\/a> industry, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\"><\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/mena-india\/en\" style=\"\">MENA <> India<\/a> corridor?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/newsletters\/\" style=\"\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/961.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In a market defined by geopolitical risk, inflation, currency volatility, and declining interest rates, knowing how to manage your money has never been more important, and yet few people are really good at it.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The default in Egypt has traditionally been to dollarize, buy real estate, or stash your extra cash in a high-yield certificate of deposit, but that playbook is dying.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">With an illiquid real estate market, the era of ultra-high-yield deposits coming to an end, and a rapidly expanding ecosystem of digital investment options, investors are looking for new, smarter opportunities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">In this four-part series, <strong>EnterpriseAM Money Matters<\/strong> will walk you through smart personal finance decisions regardless of your age, income, or starting point.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/eg\" style=\"\">Subscribe to our Egypt edition<\/a> and take the first step toward making your money work harder \u2014 delivered to your inbox Wednesday, May 20. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We got a raft of business and geopolitical updates this morning.<\/strong> The US and Iran seem no closer to a final resolution, with President Donald Trump <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116590914302000241\" style=\"\">warning<\/a> Tehran that \u201cthe clock is ticking.\u201d Iranian media claims that Washington has demanded the removal of the nation\u2019s uranium stockpile without proposing tangible concessions in return. A drone strike on the UAE\u2019s Barakah nuclear power plant has heightened tensions in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, in the world of M&A:<\/strong> French advertising group Publicis Groupe <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/fa33f1b3-ea8b-474b-9f75-a70536c8d2cb?syn-25a6b1a6=1\" style=\"\">is acquiring<\/a> data collaboration company LiveRamp in a USD 2.2 bn transaction, expanding its foothold in the AI marketing space. The move will allow the group to create proprietary data for clients and develop intelligent AI agents.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And on Wall Street: <\/strong>Investors are <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/bond-yield-spike-is-risk-unprepared-equities-market-investors-warn-2026-05-17\/\" style=\"\">sounding the alarm<\/a> over an apparent market paradox, where bullish sentiment prevails in stocks while <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/17\/this-morning-saudi-economy-least-affected-in-gulf-by-us-iran-war-fallout-imf\/\" style=\"\">bond yields rise sharply<\/a>, leading some to believe that a drastic shift is overdue. Despite positive market sentiment over robust first-quarter earnings and AI-related developments, higher yields portend costlier corporate spending and a safe haven to draw investors away from equities.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/capital-markets\/\">Capital Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/inflation\/\">Inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/investment-ministry\/\">Investment Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sab-invest\/\">SAB Invest<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109065\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n    <div class=\"issue-sponsor-slides-div\">\r\n        \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42493.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/15549.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Easier life with Tasheel<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            \r\n            <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/42494.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/hap.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/108985.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>The Luxury of Certainty<\/span>\r\n                <\/div>\r\n            <\/div>\r\n                <\/div>\r\n    <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109066\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109066\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\">\r\n                            Is Aramco on a USD 35 bn privatization push?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Is Aramco on a USD 35 bn privatization push?&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/&title=Is Aramco on a USD 35 bn privatization push?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Is+Aramco+on+a+USD+35+bn+privatization+push%3F+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fis-aramco-on-a-usd-35-bn-privatization-push%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/463.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109067\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/is-aramco-on-a-usd-35-bn-privatization-push\/463-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/463.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"463.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/463.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/3\/463.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109066\" class=\"content-area-description single-story post-109066 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-aramco tag-energy tag-enterpriseam-ksa tag-news-lead tag-privatization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Aramco is reportedly preparing the biggest privatization drive in its history<\/strong>, lining up asset sales that could fetch as much as USD 35 bn in total, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-15\/aramco-cracks-open-its-empire-to-wall-street-in-35-billion-push\" style=\"\">Bloomberg<\/a> reports, citing people it says are familiar with the matter. The energy giant is moving ahead with the plan despite the regional war that erupted on 28 February, with bankers expecting a steady pipeline of agreements to land in front of global private equity and infrastructure investors in the coming months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The catalyst:<\/strong> A BlackRock-led group signed a USD 11 bn lease agreement <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/17\/aramco-signs-usd-11-bn-lease-agreement-for-jafurah\/\" style=\"\">back in August<\/a> covering Jafurah Field Gas Plant and the Riyas NGL Fractionation facility. The response from global funds was strong enough to convince executives in Dhahran that there is real appetite for more, the sources told the business information service, adding the new wave of divestments will span energy facilities, infrastructure, and even real estate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's on the block:<\/strong> Transactions in the works include a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/14\/this-morning-aramco-explores-usd-10-bn-sale-and-leaseback-of-its-real-estate-portfolio\/\" style=\"\">sale-and-leaseback<\/a> of real estate assets that could include Aramco\u2019s headquarters campus in the Eastern Province, a stake sale in its oil export and storage terminals, and agreements involving gas-fired power plants and its water infrastructure business, according to the business information service. Aramco wants to keep full control of its upstream business but is willing to part with minority stakes in midstream and downstream assets, the sources added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The thinking has shifted with the war:<\/strong> \u201cBefore the spending cuts in megaprojects and the Iran War hit to export volumes, this might have been interpreted as Aramco reducing exposure to non-core assets,\u201d Tellimer's head of emerging market equity and geopolitical strategy Hasnain Malik told the business information service. \u201cBut now this is going to be considered as maximizing access to liquidity for Aramco and its sovereign shareholder.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the timing matters for Riyadh:<\/strong> The agreements double as a signal that Saudi Arabia can still pull in foreign capital while Iranian attacks on Gulf cities and infrastructure continue. They also feed into a metric the Kingdom badly needs to move: FDI, which is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/03\/25\/saudis-peace-premium-spared-it-the-brunt-of-the-conflict-but-time-is-not-on-our-side\/\" style=\"\">still running well short<\/a> of the USD 100 bn annual target set for the end of the decade.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/energy\/\">ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/news-lead\/\">News Lead<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/privatization\/\">privatization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109068 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"109068\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/109068\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109068\" class=\"content-area-description single-story post-109068 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/web.facebook.com\/HassanAllamProperties\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/798.jpeg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109069\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109069\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">INFRASTRUCTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/\">\r\n                            Decentralized water economics                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Why planning Saudi water strategy just got a lot more complicated&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/&title=Why planning Saudi water strategy just got a lot more complicated\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Why+planning+Saudi+water+strategy+just+got+a+lot+more+complicated+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fwhy-planning-saudi-water-strategy-just-got-a-lot-more-complicated%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/983.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109070\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/why-planning-saudi-water-strategy-just-got-a-lot-more-complicated\/983-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/983.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"983.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/983.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/983.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109069\" class=\"content-area-description single-story post-109069 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-desalination tag-enterpriseam-ksa tag-infrastructure wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Does <\/strong><strong>Saudi Arabia<\/strong> <strong>need to revamp its water strategy? <\/strong>The Kingdom is shifting toward a high-tech circular water economy and exploring innovative desalination methods amid soaring demand and geopolitical pressures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some <\/strong><strong><a target=\"_blank\" href=\"https:\/\/english.aawsat.com\/business\/5262126-saudi-arabia-boosts-water-efficiency-over-267-billion-investments-2018\" style=\"\">SAR 100 bn<\/a><\/strong><strong> were invested over the past seven years to improve the <\/strong><strong>efficiency of Saudi Arabia\u2019s water strategy. <\/strong>The country <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/08\/the-kingdoms-liquid-fuel-displacement-program-is-making-progress\/\" style=\"\">utilized<\/a> seawater reverse osmosis as a core desalination technology to reduce energy consumption. It also <a target=\"_blank\" href=\"https:\/\/www.mewa.gov.sa\/en\/Ministry\/Agencies\/TheWaterAgency\/Topics\/Pages\/Strategy.aspx\" style=\"\">shifted<\/a> from simply expanding desalination capacity toward a focus on reducing water losses and <a target=\"_blank\" href=\"http:\/\/www.nwc.com.sa\/EN\/MediaCenter\/News\/pages\/22hajj-2025-madinah.aspx\" style=\"\">improving<\/a> network efficiency through smart infrastructure and digital monitoring.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s great, but is it enough?<\/strong> \u201cSaudi Arabia has become one of the largest markets for water desalination and water distribution projects in the world,\u201d Alexander Sarac, partner for infrastructure projects and energy at Addleshaw Goddard, tells EnterpriseAM. The build-out is less a defensive water-security play and more of a precondition for growth, as Vision 2030 \u201ccannot be achieved without a significant increase in water desalination capacity spread across the country,\u201d Goddard adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand has been climbing fast since 2015<\/strong> on the back of new housing, tourism, real estate, and agricultural projects, as well as industrial cooling loads, MENA Economist Hamzeh Al Gaood tells EnterpriseAM. Add in Vision 2030's mandate to cut reliance on non-renewable water sources and push treated wastewater reuse.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Then came the geopolitics.<\/strong> The Iran conflict has \u201csignificantly heightened the urgency around water security,\u201d Al Gaood says. Mega-plants are central to GCC water supply but are \u201chighly exposed targets.\u201d If hit or taken offline, the disruption would be widespread, \u201cgiven the region's heavy reliance on desalination to sustain urban growth and economic activity,\u201d he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BUT- Can we plan everything around war?<\/strong> Critical infrastructure does become a target when conflicts escalate, but \u201ca country such as Saudi Arabia cannot plan its infrastructure purely for war times. It must be able to plan for \u2018normal\u2019 periods while planning for backup solutions and contingencies,\u201d Sarac says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Enter the decentralization thesis<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch for smaller, localized systems is to spread <\/strong><strong>production across multiple sites<\/strong>, reduce single-point-of-failure exposure, and score some environmental points along the way. Large desalination plants raise salinity in surrounding waters, which decentralized systems can ease, Al Gaood notes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The economics, though, aren't quite there yet.<\/strong> Smaller localized systems are \u201cmore expensive\u201d today, Sarac says, and make commercial sense mainly in remote areas where transmission is costly, or where they're built for a specific offtaker. \u201cDecentralized solutions can be part of the mix; it is not an either-or.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Energy is the binding constraint.<\/strong> Desalination is power-hungry, which is exactly why the industry has historically clustered into large plants with reliable grid access, Al Gaood notes. For decentralized systems to scale economically, the underlying technology\u2019s energy efficiency has to improve. That ties into the Kingdom\u2019s broader grid build-out, already being stretched by emerging loads like AI data centers, which will need to absorb a more geographically dispersed pattern of water-related demand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For new cities, industrial zones, and green urban projects, the end user \u201conly needs <\/strong><strong>water<\/strong>,\u201d Sarac argues. Cost and availability tend to weigh more heavily than technology type, but whether this will change following the conflict remains to be seen, he adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The technology side is where the investment story sharpens.<\/strong> Mohamed Askar, Middle East and Africa sales director at Veolia Water Technologies, points to advanced reverse osmosis (RO) as a near-term enabler. But even advanced RO systems \u201crely on remote monitoring and control for predictive maintenance and performance assurance.\u201d That means distributed plants still need stable energy, specialized maintenance, digital infrastructure, and steady access to membranes and spare parts to run, Askar says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sarac is blunter: <\/strong>\u201cIt is just not feasible to move from large scale to decentralized overnight. Building isolated systems for specific regions requires a different planning approach and will come at a cost,\u201d he says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beyond desalination, the Kingdom is also widening its water-source mix<\/strong>, tapping underground reserves, exploring water access further north including from Syria and Iraq, and investing in less energy-intensive desalination technology, Al Gaood says.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/desalination\/\">Desalination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109071 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"109071\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/109071\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109071\" class=\"content-area-description single-story post-109071 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.tasheelfinance.com\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1942.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109072\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109072\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/\">\r\n                            BlueFive clinches 42% of Gulf General Ins.                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=BlueFive Capital to restructure and absorb a struggling Gulf General Ins.&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/&title=BlueFive Capital to restructure and absorb a struggling Gulf General Ins.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=BlueFive+Capital+to+restructure+and+absorb+a+struggling+Gulf+General+Ins.+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fbluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/985.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109073\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/bluefive-capital-to-restructure-and-absorb-a-struggling-gulf-general-ins\/985-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/985.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"985.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/985.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/985.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109072\" class=\"content-area-description single-story post-109072 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-bluefive-capital tag-enterpriseam-ksa tag-gulf-general-cooperative-ins-company tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>BlueFive <\/strong><strong>Capital<\/strong> <strong>locks in binding 42% stake in <\/strong><strong>GGI:<\/strong> Abu Dhabi-based investment firm <a target=\"_blank\" href=\"https:\/\/bluefivecapital.com\/\" style=\"\">BlueFive Capital<\/a> signed a binding share subscription agreement to take a 42% stake in struggling Tadawul-listed <a target=\"_blank\" href=\"https:\/\/www.ggi-sa.com\/\" style=\"\">Gulf General Cooperative Ins.<\/a> (GGI) as part of a major financial restructuring for the insurer, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/966.pdf\" style=\"\">pres<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/966.pdf\" style=\"\">s<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/966.pdf\" style=\"\">release (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The mechanics: <\/strong>GGI will first cut its share capital to SAR 124 mn from SAR 300 mn by cancelling 17.6 mn shares to wipe out the bulk of its accumulated losses. It will then issue 17.6 mn new ordinary shares at par value to bring its capital back up to SAR 300 mn. BlueFive (or an entity it controls) will subscribe to 12.6 mn of those new shares, representing a 42% post-restructuring stake. The remaining 5 mn shares will go to GGI\u2019s existing substantial shareholders to convert a SAR 50 mn outstanding shareholder loan into equity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the works for a while: <\/strong>The transaction follows a <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/01\/bluefive-to-subscribe-to-new-gulf-general-cooperative-ins-shares\/\" style=\"\">non-binding offer<\/a> from BlueFive in November to participate in a capital increase at GGI, under which it had proposed taking up all new shares with pre-emptive rights suspended for existing shareholders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is a bailout for GGI: <\/strong>The company\u2019s net losses for 2025 <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=93607&anCat=1&cs=8260&locale=en\" style=\"\">widened<\/a> to SAR 120.5 mn from SAR 94.2 mn the previous year, while revenues slipped 22.4% to SAR 321.8 mn on lower results from ins. services and investment income and higher reins. and operating costs. As of <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95017&anCat=1&cs=8260&locale=en\" style=\"\">1Q 2026<\/a>, GGI\u2019s accumulated losses reached SAR 272.8 mn, equal to 91% of its share capital. That, along with a low solvency ratio, raised serious doubts about GIG\u2019s going concern position. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For BlueFive, it\u2019s a regional consolidation play: <\/strong>BlueFive Capital launched BlueFive Ins. in <a target=\"_blank\" href=\"https:\/\/bluefivecapital.com\/newsroom\/bluefive-capital-launches-bluefive-insurance-to-lead-consolidation-of-gcc-insurance-market\/\" style=\"\">November<\/a>, a new arm targeting consolidation, digitization, and specialization across a fragmented GCC ins. sector. GGI\u2019s acquisition is expected to serve as a platform for a broader buy-and-build strategy targeting smaller ins. and reins. providers in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next:<\/strong> The move still needs to clear final regulatory hurdles and get the green light from shareholders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>SNB Capital and A&O Shearman advised BlueFive, while GIB Capital and AS&H Clifford Chance counselled GGI. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/bluefive-capital\/\">BlueFive Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/gulf-general-cooperative-ins-company\/\">Gulf General Cooperative Ins. Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109074\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109074\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">MOVES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/\">\r\n                            Sico BSC\u2019s new group deputy CEO                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sico BSC appoints Yousif Bucheeri as group deputy CEO&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/&title=Sico BSC appoints Yousif Bucheeri as group deputy CEO\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sico+BSC+appoints+Yousif+Bucheeri+as+group+deputy+CEO+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fsico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/987.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109075\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/sico-bsc-appoints-yousif-bucheeri-as-group-deputy-ceo\/987-jpg-30\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/987.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"987.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/987.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/987.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109074\" class=\"content-area-description single-story post-109074 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-enterpriseam-ksa tag-moves tag-sico wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Regional investment bank <\/strong><strong>Sico <\/strong><strong>BSC <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7460312731586449408\/\" style=\"\">appointed<\/a><\/strong><strong> Yousif <\/strong><strong>Bucheeri (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/yousif-bucheeri-9424bb39\/\" style=\"\">LinkedIn<\/a><\/strong><strong>) as <\/strong><strong>its new group deputy CEO. <\/strong>Bucheeri takes the reins of Sico\u2019s investment banking, research, brokerage, and alternative advisory business lines across Bahrain, the UAE, and Saudi Arabia, bringing over 15 years of expertise in GCC alternative investments and real estate finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>PLUS: <\/strong>The Arabian Company for Agricultural and Industrial Investment (Entaj) has appointed Ahmed Abu Sharakh as acting CEO effective today, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95449&anCat=1&cs=2287&locale=en\" style=\"\">disclosure to Tadawul<\/a>. He will take over from outgoing CEO Raja Al Harbi, who resigned due to personal reasons, the disclosure said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bit about the new CEO:<\/strong> Abu Sharakh brings over 28 years of experience \u2014 he held executive and leadership titles across major companies, including Kraft Foods, Savola Group, and Fine Hygienic. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/moves\/\">MOVES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/sico\/\">Sico<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109076\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109076\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/\">\r\n                            Ades secures North Sea extension, defense pact for Saudi Chemical, Amlak extends SAR 1.1 bn loan                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ades secures North Sea extension, defense pact for Saudi Chemical, Amlak extends SAR 1.1 bn loan&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/&title=Ades secures North Sea extension, defense pact for Saudi Chemical, Amlak extends SAR 1.1 bn loan\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ades+secures+North+Sea+extension%2C+defense+pact+for+Saudi+Chemical%2C+Amlak+extends+SAR+1.1+bn+loan+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1060.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109077\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/ades-secures-north-sea-extension-defense-pact-for-saudi-chemical-amlak-extends-sar-1-1-bn-loan\/1060-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1060.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1060.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1060.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1060.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109076\" class=\"content-area-description single-story post-109076 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-ades tag-also-on-our-radar tag-amlak tag-enterpriseam-ksa tag-saudi-chemical wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Ades locks in longer-term Dutch North Sea rig pact<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a target=\"_blank\" href=\"https:\/\/adesgroup.com\/\" style=\"\">Ades<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/adesgroup.com\/\" style=\"\">Holding<\/a><\/strong> <strong> extended its one-year Dutch North Sea <\/strong><strong>contract with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tenazenergy.com\/\" style=\"\">Tenaz Energy<\/a><\/strong><strong> into a three-year firm commitment<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/5\/918.pdf\" style=\"\">press release (pdf)<\/a>. The extended contract keeps two additional one-year options and carries a total potential contract value of SAR 832.24 mn (USD 221.93 mn). The contract began in mid-November 2025 and was initially structured as a one-year firm term with two optional one-year extensions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adding the Netherlands to an Africa- and Asia-focused year:<\/strong> Ades <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/05\/bindawood-secures-gac-green-light-for-majority-stake-in-vaza-food\/\" style=\"\">partnered<\/a> this year with Seplat Energy to provide offshore drilling services in Nigeria for SAR 347.6 mn (USD 92.7 mn), after <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/01\/ades-lands-sar-2-7-bn-offshore-drilling-contract-in-nigeria\/\" style=\"\">agreeing<\/a> to deploy premium rigs for the West African Exploration for SAR 2.73 bn, and <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/04\/23\/ashmores-education-fund-expands-al-modawat-resorts-to-sukuk-issuance\/\" style=\"\">providing<\/a> similar services in Thailand for Valeura Energy under an SAR 345 mn contract.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Diversified revenue streams, expansion into new markets, and international rig redeployments are Ades\u2019 game plan for 2026, CEO Mohamed Farouk said in its <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/13\/ades-lazurde-tasheel-and-seera-post-1q-earnings\/\" style=\"\">1Q results<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Saudi Chemical signs five-year TNT supply agreement<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Chemical unit secures TNT supply agreement: <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudichemical.com\/en\" style=\"\">Saudi<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudichemical.com\/en\" style=\"\">Chemical<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudichemical.com\/en\" style=\"\">Company Holding<\/a><\/strong> subsidiary Saudi Chemical Company inked a five-year agreement with the National Company for Mechanical Systems to supply military materials including trinitrotoluene (TNT), according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95418&anCat=1&cs=2230&locale=en\" style=\"\">Tadawul disclosure<\/a>. The agreement covers initial annual quantities based on purchase orders, with a maximum contract value of SAR 742 mn (USD 198 mn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Amlak keeps SAR 1.1 bn Saib loan in place until 2028<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amlak<\/strong><strong> International Finance <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/03\/12\/yaqeen-capital-will-arrange-slics-planned-tadawul-ipo\/\" style=\"\">renewed<\/a><\/strong> <strong> its SAR 1.1 bn shariah-compliant <\/strong><strong>loan <\/strong><strong>with the Saudi Investment Bank (Saib) through January 2028<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=95440&anCat=1&cs=1182&locale=en\" style=\"\">Tadawul disclosure<\/a>. The facility will support the company\u2019s growth plans and expand its financing capacity, and is backed by assigned receivables and a promissory note.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The company secured SAR 250 mn in a shariah-compliant loan from Emirates NBD KSA <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/08\/28\/maaden-subsidiary-inks-30-year-solar-power-agreement-for-al-baitha-mine\/\" style=\"\">last August<\/a>. The four-year facility is similarly geared toward supporting Amlak\u2019s operations and boosting its client financing.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/ades\/\">Ades<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/amlak\/\">Amlak<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/saudi-chemical\/\">Saudi Chemical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109078\" class=\"issue-section markets\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"109078\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/\">\r\n                            The great retreat                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=PIF and Berkshire are now telling the same story about US equities&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/&title=PIF and Berkshire are now telling the same story about US equities\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=PIF+and+Berkshire+are+now+telling+the+same+story+about+US+equities+https%3A%2F%2Fenterpriseam.com%2Fksa%2F2026%2F05%2F18%2Fpif-and-berkshire-are-now-telling-the-same-story-about-us-equities%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1012.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"109079\" data-permalink=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/pif-and-berkshire-are-now-telling-the-same-story-about-us-equities\/1012-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1012.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1012.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1012.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1012.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109078\" class=\"content-area-description single-story post-109078 post type-post status-publish format-standard has-post-thumbnail hentry category-planet-finance tag-enterpriseam-ksa tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Two of the world\u2019s smartest money managers just looked at the <\/strong><strong>blue-chip US equity market and said no thanks. <\/strong>The\u00a0Public Investment Fund (PIF) and Warren Buffett\u2019s Berkshire Hathaway filed their quarterly US equity disclosures with the SEC on Friday, 15 May, and what they had in common was more interesting than what they bought.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Berkshire Hathaway\u2019s <\/strong><strong><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1067983\/000119312526226661\/0001193125-26-226661.txt\" target=\"_blank\" rel=\"noopener\">first 13F under its new CEO Greg Abel<\/a><\/strong><strong> shows a firm in active retreat from broad US equity exposure.<\/strong> Berkshire exited 16 positions entirely in 1Q 2026 \u2014 including full sales of Amazon, Visa, Mastercard, and UnitedHealth \u2014 while buying USD 15.94 bn in stocks against USD 24.09 bn in sales.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The marquee additions were a new USD 2.65 bn stake in Delta Air Lines<\/strong>, reversing Buffett\u2019s 2020 airline exit, and a near-tripling of the Alphabet Class C position to roughly 58 mn shares. Even after that rebalancing, Berkshire\u2019s cashpile sat at <a href=\"https:\/\/finance.yahoo.com\/news\/berkshires-cash-pile-might-data-182916039.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAANAQZkAzNEyqN1MSITLiSkna5_VqIwWSboBYvPMuchht64GSiCoXlXtFqGox5PPoikUELEwEOIxQlpmwxNkir4mwM3Hx9LBBKZBAwVZHa56nlTfr9fOXbIYsg_8X2siyHgeyNXydNgD4iPSswdTpkuf_KMe9vElLeGCFETKzNAjd\" target=\"_blank\" rel=\"noopener\">USD 397 bn<\/a> at quarter-end \u2014 the firm's way of saying it can't find enough stocks worth buying at current prices. Berkshire has been a net seller for <a href=\"https:\/\/finance.yahoo.com\/news\/berkshires-cash-pile-might-data-182916039.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAANAQZkAzNEyqN1MSITLiSkna5_VqIwWSboBYvPMuchht64GSiCoXlXtFqGox5PPoikUELEwEOIxQlpmwxNkir4mwM3Hx9LBBKZBAwVZHa56nlTfr9fOXbIYsg_8X2siyHgeyNXydNgD4iPSswdTpkuf_KMe9vElLeGCFETKzNAjd\" target=\"_blank\" rel=\"noopener\">14 quarters in a row<\/a>.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Read against Berkshire\u2019s filing, PIF tells a similar story<\/strong>, though the two funds got there differently. According to <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1767640\/000101143826000338\/0001011438-26-000338.txt\" target=\"_blank\" rel=\"noopener\">PIF\u2019s first 13F filing of the year<\/a>, the fund now holds just four US-listed positions \u2014 Uber (USD 5.24 bn), Electronic Arts (USD 5.06 bn), Lucid Group (USD 1.69 bn), and Clarivate (USD 20.9 mn) \u2014 for a combined USD 12 bn, marking their lowest level in five years, <a href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1906235\" target=\"_blank\" rel=\"noopener\">Argaam<\/a> reports. Visa, Mastercard, and Amazon were already gone from PIF\u2019s book before this quarter.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ICYMI- PIF\u2019s portfolio of US holdings peaked at USD 56.7 bn<\/strong> across 36 positions at the end of 2021, and has been contracting ever since. The PIF also recently cut its international allocation target to <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/06\/gulf-swfs-have-become-the-swing-vote-in-global-capital-flows\/\" target=\"_blank\" rel=\"noopener\">20% in April<\/a>, down from 30%, signaling a broader shift toward deploying more sovereign capital at home.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Why it matters: <\/strong>PIF\u2019s latest filing adds more weight to something markets have slowly been picking up on. Gulf sovereign money is increasingly being called home. As regional governments ramp up domestic spending \u2014 with <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/06\/gulf-swfs-have-become-the-swing-vote-in-global-capital-flows\/\" target=\"_blank\" rel=\"noopener\">defense and reconstruction costs<\/a> from the Iran war also looming \u2014 broad exposure to US mega-caps appears to matter less than it once did.<\/p>\n<p class=\"tag-border-left\">MARKETS THIS MORNING-<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Asia-Pacific markets are down in early trading this morning<\/strong>, triggered by fears of further escalations in the ongoing regional war after US President Donald Trump told Iran to \u201cget moving.\u201d<\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>TASI<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">10,968<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.3% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>MSCI Tadawul 30<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">1,468<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.3% (YTD: +5.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>NomuC<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">22,834<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.7% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>USD : SAR (SAMA)<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 3.75 Sell<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 3.75 Buy<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Interest rates<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">4.25% repo<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">3.75% reverse repo<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>EGX30<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">52,364<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-1.5% (YTD: +25.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>ADX <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">9,678<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.3% (YTD: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>DFM <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">5,709<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.5% (YTD: -5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>S&amp;P 500 <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">7,409<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-1.2% (YTD: -8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>FTSE 100 <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">10,195<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-1.7% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">5,828<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-1.8% (YTD: +0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Brent crude <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 110.33<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 2.99<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Gold <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 4,549<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>BTC <\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">USD 77,862<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.4% (YTD: -11.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>Sukuk\/bond market index<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">909.79<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.6% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>S&amp;P MENA Bond &amp; Sukuk<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">150.35<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">-0.6% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\"><\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">18.43<\/p>\n<\/td>\n<td style=\"border-right-style: solid;padding: 5pt 5pt 5pt 5pt;border-right-width: 1pt;border-top-style: solid;border-left-style: solid;border-bottom-width: 1pt;width: 139.2pt\" colspan=\"1\" rowspan=\"1\">\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\">+6.8% (YTD: +23.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p class=\"tag-border-left\">THE CLOSING BELL: TADAWUL-<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The TASI <\/strong>fell 0.3% yesterday on turnover of SAR 2.9 bn. The index is up 4.6% YTD.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In the green:<\/strong> Arabian Shield (+7.3%), Enaya (+7.0%), and Kingdom Holding (+6.4%).<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In the red: <\/strong>Gulf Ins. Group (-4.9%), Rasan (-4.3%), and Marafiq (-4.2%).<\/p>\n<p class=\"tag-border-left\">THE CLOSING BELL: NOMU-<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>The NomuC<\/strong> fell 0.7% yesterday on turnover of SAR 13.8 mn. The index is down 2.0% YTD.<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In the green:<\/strong> Horizon Food (+8.6%), Future Vision (+8.0%), and Apico (+7.7%).<\/p>\n<p style=\"padding: 0;margin: 0;line-height: 1.15;text-align: left\"><strong>In the red:<\/strong> Riyadh Steel (-10.0%), Multi Business (-9.1%), and Alhasoob (-8.8%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/financial-markets\/\">Financial markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/ksa\/tag\/planet-finance\/\">PLANET FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"109080\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/ksa\/2026\/05\/18\/109080\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-109080\" class=\"content-area-description single-story post-109080 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">24-28 May (Sunday-Thursday): Eid Al Adha holiday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 June (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aluminium-exhibition.com\/arabia\/en-gb.html\" style=\"\">Aluminum Arabia<\/a><\/span><span style=\"font-weight:400;\">, The Arena, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudifoodexpo.com\/\" style=\"\">Saudi Food Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Expo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-pp.com\/\" style=\"\">Saudi Print & Pack<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/riyadhiiw.com\/\" style=\"\">Riyadh International Industry Week<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudipp.com\/\" style=\"\">Saudi Plastics & Petrochem<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>21-24 June (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-smartlogistics.com\/\" style=\"\">Saudi Smart Logistics<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-24 June (Monday-Wednesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futurehospitality.com\/sa\" style=\"\">Future Hospitality Summit<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6 July-23 August (Monday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/posts\/mike-mccabe-600532_esportsworldcup-ewc2026-esports-activity-7383046360637456384-FXWl?utm_source=share&utm_medium=member_desktop&rcm=ACoAADcc9s0BqbX_KIfcdiR9Co3ThUUfykvz4-o\" style=\"\">Esports World Cup<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 August-1 September (Sunday-Tuesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudientertainmentexpo.com\/?utm_source=google&utm_medium=organic&utm_campaign=seo\" style=\"\">Saudi Entertainment and Amusement Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition and Conference Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>31 August-3 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/onegiantleap.com\/\" style=\"\">Leap Tech Conference<\/a><\/span><span>, Riyadh Exhibition & Convention Center - Malham.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 September<\/span><span> (Tuesday-Thursday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/spotlight-riyadh\/en-gb\/visit.html\" style=\"\">WTM Spotlight Riyadh<\/a><\/span><span style=\"font-weight:400;\">, Riyadh Front Exhibition & Conference Center (RFECC), Riyadh<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 September (Tuesday-Thursday) The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalaisummit.org\/en\/Pages\/About.aspx\" style=\"\">Global AI Summit<\/a><\/span><span style=\"font-weight:400;\">, King Abdulaziz International Convention Center, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 September (Wednesday): Saudi National Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28 September-1 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.icegov.org\/2026\/\" style=\"\">The International Conference on Theory and Practice of Electronic Governance (ICEGOV)<\/a><\/span><span style=\"font-weight:400;\">, Prince Sultan University, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-15 October (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldenergy.org\/experiences-events\/world-energy-congress\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/achema-middle-east.ksa.messefrankfurt.com\/ksa\/ppc.html?utm_source=ppc-landingpage&utm_medium=cpc&utm_campaign=kreativeclan_brand_exact_MENA_GCC&utm_content=homepage&gad_source=1&gad_campaignid=23591771694&gbraid=0AAAABBPuheGu3HUwCgxv7inX_RLac-B3S&gclid=CjwKCAiA2PrMBhA4EiwAwpHyC5npsmz5GRyYSeppI3k19DPZWLNG42F9H46N02ivlImv5gKzFI9D5RoCQGUQAvD_BwE\" style=\"\">ACHEMA Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cipsmenaconferenceandawards.com\/\" style=\"\">Procurement and Supply Chain Futures Forum<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>28-29 October (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.rscforum.com\/\" style=\"\">Real Estate Supply Chain Forum<\/a><\/span><span style=\"font-weight:400;\">, Mandarin Oriental Al Faisaliah Hotel, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-29 November (Wednesday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sandnfun.com\/en\/\" style=\"\">Aero Middle East and Sand & Fun<\/a><\/span><span style=\"font-weight:400;\">, Thumamah Airport, Riyadh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2026:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">2H: Sabic\u2019s USD 6.4 bn Fujian project in China to start production;<\/span><\/li>\n<li><span>September: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudisignageexpo.com\/saudi-paper-packaging-expo-2026\/\" style=\"\">Saudi Paper and Packaging Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh International Convention & Exhibition Center;<\/span><\/li>\n<li><span style=\"font-weight:400;\">November: The UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia;<\/span><\/li>\n<li><span style=\"font-weight:400;\">November: The Esports Nations Cup, Riyadh; <\/span><\/li>\n<li><span>The World Economic Forum\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2026\/01\/annual-meeting-2026-a-spirit-of-dialogue-ceb3ae9c08\/#:~:text=The%20Global%20Collaboration%20and%20Growth%20Meeting%20will%20be%20held%20in%20Jeddah%2C%20Saudi%20Arabia%20on%2022%2D23%20April%202026.\" style=\"\">Global Collaboration and Growth Meeting<\/a><\/span><span style=\"font-weight:400;\">, Jeddah;<\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.skymovemena.com\/\" style=\"\">SkyMove Air Cargo MENA<\/a><\/span><span style=\"font-weight:400;\">, Riyadh; <\/span><\/li>\n<li><span>The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/intervision.world\/en\/\" style=\"\">Intervision<\/a><\/span><span style=\"font-weight:400;\"> international music competition will take place in Saudi Arabia.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Signposted to happen sometime in 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The World Water Forum <\/span><span style=\"font-weight:400;\">takes place in Riyadh;<\/span><\/li>\n<li><span style=\"font-weight:700\">The Ocean Race<\/span><span style=\"font-weight:400;\"> finishes in Amaala on the Red Sea;<\/span><\/li>\n<li><span style=\"font-weight:700\">Riyadh-Kudmi transmission line<\/span><span style=\"font-weight:400;\"> to be completed;<\/span><\/li>\n<li><span style=\"font-weight:700\">Capital Markets Forum<\/span><span style=\"font-weight:400;\"> takes place in March in Riyadh.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Signposted to happen sometime in 2Q 2027:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Hail Region Water Networks Project<\/span><span style=\"font-weight:400;\"> is expected to be completed.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-3 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudigazette.com.sa\/article\/660923\/saudi-arabia\/saudi-arabia-to-host-erras-24th-annual-energy-regulators-conference-in-riyadh\" style=\"\">Energy Regulators Regional Association annual conference<\/a><\/span><span>, Riyadh.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The Saudi water dilemma. BlueFive\u2019s GGI takeover. Sico\u2019s new deputy CEO.<\/p>\n","protected":false},"featured_media":109062,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-109061","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8e086bf9-24af-4a07-8697-4979dc6b6320","teaser":"The Saudi water dilemma. BlueFive\u2019s GGI takeover. Sico\u2019s new deputy CEO.","photo_url":"https:\/\/ent.news\/2026\/5\/1038.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Unlocking USD 35 bn - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unlocking USD 35 bn\" \/>\n<meta property=\"og:description\" content=\"The Saudi water dilemma. BlueFive\u2019s GGI takeover. Sico\u2019s new deputy CEO.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-18T03:05:36+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/\",\"name\":\"Unlocking USD 35 bn - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2026-05-18T00:00:00+00:00\",\"dateModified\":\"2026-05-18T03:05:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Unlocking USD 35 bn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Unlocking USD 35 bn - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/","og_locale":"en_US","og_type":"article","og_title":"Unlocking USD 35 bn","og_description":"The Saudi water dilemma. BlueFive\u2019s GGI takeover. Sico\u2019s new deputy CEO.","og_url":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/","og_site_name":"KSA","article_modified_time":"2026-05-18T03:05:36+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/","url":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/","name":"Unlocking USD 35 bn - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1","datePublished":"2026-05-18T00:00:00+00:00","dateModified":"2026-05-18T03:05:36+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1038.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/issues\/unlocking-usd-35-bn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/ksa\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Unlocking USD 35 bn"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/109061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/109061\/revisions"}],"predecessor-version":[{"id":109100,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/109061\/revisions\/109100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/109062"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=109061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=109061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=109061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}